EUR/USD is consolidating gains above 1.1300, as the US dollar looks to stabilize after Powell and Omicron covid variant induced bond market volatility. Eurozone inflation refreshes record top, ECB policymakers cite growth concerns to defend easy money policies. US ADP, ISM PMI and Powell’s testimony 2.0 eyed.
GBP/USD holds onto recovery moves from yearly low. France step-back on Brexit battle but it’s not fishing, traders push-back BOE rate hike calls to 2022 on more Omicron cases in UK. UK/US PMIs, ADP Employment Change will decorate calendar.
Gold price corrects from four-week lows towards $1,800 but downside bias remains intact. Hawkish Fed Chair Powell and the Omicron covid fears take bond and gold markets on a spin. All eyes now remain on the US ADP, ISM PMI and Powell for fresh impetus.
Chainlink price seems ready for a reversal of its two-week downswing as it attempts to create a higher high. This outlook is also supported by on-chain metrics, which suggest the possibility of accumulation at the current levels for LINK.
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